Saving for the holidays, now is the best time to start saving for the holidays. Some banks offer holiday clubs which allow you to deposit money for the holidays or for whatever savings plan you may have. About a month before the holidays comes', they distribute you a check from all the money you have saved, plus interest. If your bank does not offer a holidays savings club, there are many online banks that offer automatic transfers from your current account, to an online savings account. They usually offer higher interest than a regular savings account and it is liquid. Liquid means that you have that money readily available and it is not frozen like a Time deposit. A TimeDeposit is money you invest for a period of time in a high interest account. The online banks are able to offer high interest bearing accounts because their cost is lower than you walking into the bank. There is less over head with an online savings account and you the consumer earn that extra income.

Here is a simple figure for visual purpose:

There are 52 weeks in a year, and if you save 20 dollars a week for 52 weeks. That is a savings of 1040. $1040.00 can go a long way if you spend it wisely.

Just for thought,
Go Frugal